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☆ Bitcoin is up 60% so far this year as investors rediscover appeal as alternative banking system
▼ + stars: | 2023-03-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Cryptocurrencies stood out this week as bank shares tumbled and the global liquidity crisis rocked the stock market. Bitcoin versus the banks The price of bitcoin twice rose above the key $25,200 level to more than $26,000, according to Coin Metrics. BTC.CM= 1Y mountain Bitcoin, 1-year Bitcoin's outperformance amid a crisis in the traditional banking system had some wondering if the price rallied on a potential narrative shift. Though bitcoin was initially designed to be digital cash and an alternative financial system, it spent much of last year trading like a speculative asset. "In practice, bitcoin isn't isolated from the traditional banking system.

☆ Crypto rallies into weekend, bitcoin heads for its best week since early 2021
▼ + stars: | 2023-03-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

It's headed for its best week since January 2021, which was right before the first bull run that year. Ether rose 3.5% to $1,744.24 and is on pace for its best week since August 2021. The bank's fate continued to weigh on investors even after the embattled lender said it will borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank. Investors have welcomed resilient crypto prices amid the banking crisis this week. The week kicked off with the closures of Silicon Valley Bank and Signature Bank late Sunday but attention was on First Republic Bank throughout the week.

☆ More than $70 billion wiped off crypto market in 24 hours as bitcoin drops 8% below $20,000
▼ + stars: | 2023-03-10 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

The cryptocurrency market saw more than $70 billion wiped off its value over the course of the 24 hours to 5:12 a.m. On Tuesday, U.S. Federal Reserve Chairman Jerome Powell indicated that interest rates may go higher —and stay higher — than expected. The raising of interest rates over the past year has weighed on risk assets such as stocks, and in particular cryptocurrencies. Banking worriesAnother major factor weighing on crypto prices is the collapse of Silvergate Capital, a major lender to the crytpo industry. Providing traditional banking services while also funding tech projects, it is considered a backbone of the venture capital industry in the U.S.

☆ Asia stocks rally, bonds tense for U.S. rate tests
▼ + stars: | 2023-03-06 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

Japan's Nikkei (.N225) climbed 1.0% to a three-month top, while South Korean stocks (.KS11) added 0.6% helped by a softer reading on inflation. S&P 500 futures dipped 0.1% and Nasdaq futures 0.2%, after rallying on Friday as bond yields eased back a little. Futures imply a 72% chance the Fed will go by 25 basis points at its meeting on March 22. The BOJ jolted markets in December when it unexpectedly widened the allowed trading band for 10-year bond yields to between -50 and +50 basis points. Friday's pullback in bond yields helped gold recover some ground and it was trading at $1,855 an ounce .

☆ Japan's wholesale inflation stays elevated, keeps BOJ under pressure
▼ + stars: | 2023-02-10 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

Japan's core consumer prices rose 0.3 percent in April from a year earlier, government data showed on May 29, keeping inflation distant from the central bank's 2 percent target. The increase in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, largely met a median market forecast for a 9.6% gain. The index, at 119.8, matched a record high hit in December, Bank of Japan (BOJ) data showed. "Firms have yet to fully pass on past rises in input costs, which is keeping inflationary pressure high," said Takeshi Minami, chief economist at Norinchukin Research Institute. "We expect the pace of inflation to gradually slow in the latter half of fiscal 2023," he told parliament.

☆ Ether losses build as crypto investors weigh the future of staking after Kraken exchange's SEC settlement
▼ + stars: | 2023-02-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

The price of ether fell on Friday, extending losses from the previous session as fears about a U.S. regulatory crackdown on crypto staking weighed on investors. The drop began after crypto exchange Kraken closed its staking program as part of a $30 million settlement with the Securities and Exchange Commission. Earlier in the week, Coinbase CEO Brian Armstrong sounded the alarm on a potential regulatory crackdown on staking and staking services in the U.S. that may be underway. The angst in the crypto market centers on the staking services offered by exchanges like Kraken as well as Coinbase. Staking is available only on networks like Ethereum that operate using the "proof-of-stake" protocol.

☆ Bitcoin struggles around $23,000 level as new-year rally loses steam
▼ + stars: | 2023-02-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin continues to trade in a tight range of $18,000 to $25,000 mark, keeping investors on edge about where the price is going next. Bitcoin fell as low as $22,655 early Monday morning, its lowest level since Jan. 31, according to Coin Metrics, after breaking through the $24,000 on Thursday. The price of bitcoin dipped below $23,000 over the weekend as investors digested the latest U.S. employment numbers and looked toward a batch of Federal Reserve member speeches. "Expectations are shifting to more tightening, and higher rates for longer (what the Fed has been saying all along), which is not good for risk-on assets," she added. Bitcoin is trading "at the deepest overbought condition in over two years" and is "due for a brake check," according to Wolfe Research.

☆ Bitcoin briefly rises above $24,000, extending its new year rally amid a broader gain in tech stocks
▼ + stars: | 2023-02-02 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bankruptcy filings from Celsius and Voyager have raised questions about what happens to investors' crypto when a platform fails. Bitcoin briefly touched the $24,000 level on Thursday, reaching a key technical level and building on its January rally. The up move came a day after the Federal Reserve raised its benchmark interest rate by a quarter percentage point. "The market took the latest FOMC as dovish, but bitcoin's rally remains precarious," said Yuya Hasegawa, crypto market analyst at Japanese bitcoin exchange Bitbank. "The price did rise on Wednesday, but failed to close above $24k and its momentum seems to be on the decline."

[1/2] A shopper looks at packs of vegetables at a market at a shopping district in Tokyo, Japan, December 6, 2015. To match JAPAN-ECONOMY/TANKAN REUTERS/Yuya ShinoJan 20 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. Japanese consumer price inflation is expected to have hit a new 41-year high of 4.0% in December, up from 3.70%. chartThis will mark the ninth straight month of inflation above the BOJ's 2% target. Risk appetite in Japan is holding up well, with the Nikkei 225 on course for its best week since November.

☆ New Year, new rally: Why bitcoin is up 26% this month after a tumultuous 2022
▼ + stars: | 2023-01-16 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

"The most important macro data investors are focussing on is the weak services PMI and the trending down of employment and wage data. 'Whales' buying BTCLarger purchasers of digital coins known as "whales" may be leading the latest rally in bitcoin, according to Kaiko. Several bitcoin miners have been flushed out by the drop in prices. Bitcoin miners, who use power-intensive machines to verify transactions and mint new tokens, have been squeezed by the slump in prices and rising energy costs. That's historically a good sign for bitcoin, according to Ayyar.

☆ Noma to reinvent Michelin-starred restaurant as new food 'lab'
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] Rene Redzepi, the head chef of Noma in Copenhagen, talks during an interview with Reuters at Noma at Mandarin Oriental Tokyo February 10, 2015. REUTERS/Yuya ShinoCOPENHAGEN, Jan 9 (Reuters) - Noma will close as a full-time restaurant in 2025, with the $505 per head foodie favourite focusing on pop-ups and innovation instead in order to secure a long-term future. "In 2025, our restaurant is transforming into a giant lab - a pioneering test kitchen dedicated to the work of food innovation and the development of new flavors," Noma said in a posting announcing the move on its website. "Our goal is to create a lasting organization dedicated to groundbreaking work in food," said Noma, whose name is a play on the Danish words "nordisk mad", meaning "Nordic food". ($1 = 6.9350 Danish crowns)Reporting by Nikolaj Skydsgaard; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Bank of Japan Governor Haruhiko Kuroda dismisses near-term chance of exiting easy policy
▼ + stars: | 2022-12-26 | by ( ) www.cnbc.com time to read: +2 min

Haruhiko Kuroda, governor of the Bank of Japan, speaks during a news conference at the central bank's headquarters in Tokyo on Dec. 20, 2022. Yuya Yamamoto | Jiji Press | Bloomberg | Getty ImagesBank of Japan Governor Haruhiko Kuroda on Monday brushed aside the chance of a near-term exit from ultra-loose monetary policy but voiced hope that intensifying labor shortages will prod firms to raise wages. "Labor market conditions in Japan are projected to tighten further, and firms' price- and wage-setting behavior is also likely to change," Kuroda said. "In this sense, Japan is approaching a critical juncture in breaking out of a prolonged period of low inflation and low growth," he said. The BOJ shocked markets last week with a surprise widening of the band around its 10-year yield target.

☆ Bitcoin's break above $20,000 has investors wondering if the crypto bottom is in. Here's what analysts say
▼ + stars: | 2022-10-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

October is a historically strong month for crypto, but this month, prices and volatility have been relatively flat. Don't call it a bottom yet The odd inactivity has investors wondering if the crypto market could be turning for the better and breaking out of this year's rut. That, combined with the recent low volatility, would provide more evidence of a bottom, but bitcoin today is still leaving derivative exchanges. "For low price volatility to be associated with bottoms, the portion of bitcoin inflows into exchanges dominated by whales ought to be relatively low," he said. CryptoQuant also analyzed bitcoin's MVRV, or market value to realized value, ratio, which shows crypto hasn't gone into undervalued territory.

☆ Bitcoin is higher to start the week but continues holding sideways pattern
▼ + stars: | 2022-10-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

"If the price recovers the $20,000 psychological level with a substantial trading volume in the next few days, bitcoin could test $23,000 next week." Yuya Hasegawa, crypto market analyst at Japanese crypto exchange Bitbank, said the dip wasn't deep enough to induce panic, however. Cryptocurrencies were higher on Monday after recovering from a sharp drop in the previous week. Despite a recent divergence in volatility, activity in bitcoin and ether trading remain closely tied to that of risk assets more broadly. While October is typically a strong month for crypto trading, crypto has never been in such a strongly macro driven bear market and it remains to be seen how prices will fare by the end of the month.

☆ Bitcoin holds steady at $19,000 amid growing signs of institutional adoption
▼ + stars: | 2022-10-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin on Tuesday floated at the $19,000 level, where it has remained for about a month with some momentary breaks. The largest cryptocurrency by market cap, whose volatility has been uncharacteristically low in recent weeks, was last lower by 0.7% at $19,074.31, according to Coin Metrics. Crypto prices remain depressed, with bitcoin off its all-time high from nearly a year ago by more than 70%. Though recent bitcoin volatility is low compared with stocks, the correlation between the two is still high. Prices held steady even after two big announcements signaling that institutional acceptance and adoption of crypto continues to build in spite of the bear market.

☆ McDonald's hikes prices in Japan on higher input costs, weaker yen
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterCustomers are seen through the windows of a McDonald's store (top) in Tokyo, while others stand in line in front of cash registers, July 22, 2014. REUTERS/Yuya ShinoTOKYO, Sept 26 (Reuters) - Japan's McDonald's fast food restaurants will raise prices on about 60% of offerings to customers, fuelled by rising input costs and exchange-rate fluctuations, the company said on Monday. From Friday, the cost of the signature Big Mac hamburger will increase to 410 yen ($2.85) from 390 yen, McDonald's Holding Company Japan Ltc (2702.T) said in a statement, reflecting increases of 10 to 30 yen on many items. A Big Mac costs $5.15 in the United States, according to the Economist magazine's index of prices worldwide. ($1=143.8000 yen)Register now for FREE unlimited access to Reuters.com RegisterReporting by Rocky Swift; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

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